Jun 9, 2016

Posted by in Stock Reports | 0 Comments

Insider Selling at Three Companies: Estee Lauder Companies Inc (NYSE:EL), Centene Corp (NYSE:CNC), Waste Connections Inc (USA) (NYSE:BIN)

Insider Selling at Three Companies: Estee Lauder Companies Inc (NYSE:EL), Centene Corp (NYSE:CNC), Waste Connections Inc (USA) (NYSE:BIN)

Insider trading is the trading of a public company’s stock or other securities (such as bonds or stock options) by individuals with access to nonpublic information about the company. In various countries, trading based on insider information is illegal. This is because it is seen as unfair to other investors who do not have access to the information as the investor with insider information could potentially make far larger profits that a typical investor could not make.

The authors of one study claim that illegal insider trading raises the cost of capital for securities issuers, thus decreasing overall economic growth. However, some economists have argued that insider trading should be allowed and could, in fact, benefit markets.

Trading by specific insiders, such as employees, is commonly permitted as long as it does not rely on material information not in the public domain. However, most jurisdictions require such trading be reported so that these can be monitored. In the United States and several other jurisdictions, trading conducted by corporate officers, key employees, directors, or significant shareholders must be reported to the regulator or publicly disclosed, usually within a few business days of the trade.

Estee Lauder Companies Inc (NYSE:EL) saw an insider sell on June 07, 2016 that may make shareholders worried. Haney Carl P., EVP-Global R&D, sold 34,483 shares at $93.39 a piece. The total sale came to $3,220,367. Its shares currently owned by company management are 0.10% while institutional investors own about 93.30%. The 6-month change recorded in total insider ownership was -83.45%. On the other side, -1.70% change in total institutional ownership has been reported for the 3-month period.

Moving on to the second insider trade which involved BROOKS MARK J, SVP, Chief Information Officer at Centene Corp (NYSE:CNC) sold 3,914 shares at $65.01 per share to trim the total holding at 30,605 shares. Its shares currently owned by company management are 3.70% while institutional investors own about 94.50%. The 6-month change recorded in total insider ownership was -0.79%. On the other side, 28.27% change in total institutional ownership has been reported for the 3-month period.

Waste Connections Inc (USA) (NYSE:BIN) also received some insider trading action as LITTLE JAMES, who the company’s Sr. Vice President Engineering is sold some 3,000 shares at a price of $70.60 per share to the holding that now comprises of 44,696 shares. Its shares currently owned by company management are 7.50% while institutional investors own about 70.30%. The 6-month change recorded in total insider ownership was -0.04%. On the other side, 2.77% change in total institutional ownership has been reported for the 3-month period.

 

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